Anyone want to join me? Awaiting Mortgage decision...

watch3r

berksman  Would be great to hear anyone else's experiences with Barclays... hoping we can get to valuation phase asap!!

Barclays - 30/06 -application and hard searches 
2/07 - asked for details of landlord and companies we work for ( keep
in mind they had payslips ) - revived declaration to sign ( e-sign ) 
7/07 - underwriting done and mortgage approved subject to valuation. Valuation scheduled 
17/07 valuation booked for 23/07 

if you have Barclays track it , please don’t really on it ... 

watch3r

lancslass26 said:
Just had email from Nationwide saying valuation is only scheduled for 18/8!!! Our exchange deadline is next week so have asked MB to follow up with them. That will be 5 weeks from app to valuation 

I’m certain they will understand that it’s not related to you , 

I’m on new build and just reaching my exchange date and they called me not to worry about as they know it might take a way longer then usual for this, if you have mortgage subject to valuation and you’re more then less convinced you valuation will go through you can get all the searches done etc . I’m at a point that my solicitor has everything signed just dates missing but then he was recommended by the developer ( we buy in Norfolk and live in Sussex ) and he’s certain valuation is just a formality... I don’t share his enthusiasm and probably will be calm once I have the keys in my hand . 

lancslass26

watch3r said:

lancslass26 said:
Just had email from Nationwide saying valuation is only scheduled for 18/8!!! Our exchange deadline is next week so have asked MB to follow up with them. That will be 5 weeks from app to valuation 

I’m certain they will understand that it’s not related to you , 

I’m on new build and just reaching my exchange date and they called me not to worry about as they know it might take a way longer then usual for this, if you have mortgage subject to valuation and you’re more then less convinced you valuation will go through you can get all the searches done etc . I’m at a point that my solicitor has everything signed just dates missing but then he was recommended by the developer ( we buy in Norfolk and live in Sussex ) and he’s certain valuation is just a formality... I don’t share his enthusiasm and probably will be calm once I have the keys in my hand . 

That's good to know... I've not ordered any searches for the newbuild, I wasn't going to - do you think that's a mistake? I'm just waiting to hear back from estate agent re the delay in valuation. If they were to say its agreed pending valuation then fine but it's still not gone to underwriting. My MB has just emailed NW to see if they can try and push through because of the exchange deadlines. I know what you mean though - I'll still be worried even after exchange that the mortgage will be pulled or something. 

thaddy

Thanks.. I'm using Equifax as the Nationwide isn't even showing on my Experian, think different banks use different ones. Just had email from Nationwide saying valuation is only scheduled for 18/8!!! Our exchange deadline is next week so have asked MB to follow up with them. That will be 5 weeks from app to valuation 

I think Nationwide use Transunion that's where our searches are showing. You can access it for free on Credit Karma

watch3r

lancslass26 said:That's good to know... I've not ordered any searches for the newbuild, I wasn't going to - do you think that's a mistake? I'm just waiting to hear back from estate agent re the delay in valuation. If they were to say its agreed pending valuation then fine but it's still not gone to underwriting. My MB has just emailed NW to see if they can try and push through because of the exchange deadlines. I know what you mean though - I'll still be worried even after exchange that the mortgage will be pulled or something. 

Your solicitor will do searches and you developer will do some as well . That was in my case . But I’m FTB so I have no idea If it’s normal . They are related to environment etc, like where’s the nearest hazardous waste storage, or how likely you are reliable to flooding, boundaries, where do the power line goes , future planing etc . We went with a local developer that we found by accident and loved the place , they very friendly and helpful, more helpful further down the road of successful mortgage you are but that’s everyone and hard to blame them. Our valuation was rescheduled so for me it was another week of waiting, 
I know for a fact that Barclays MA ware asked not to chase mortgage progress and that part of the underwriting is done in India, don’t know how it looks with other lenders but I presume it’s the same. Just happy I’ve applied before the rise in rates 😁

lancslass26

watch3r said:

lancslass26 said:That's good to know... I've not ordered any searches for the newbuild, I wasn't going to - do you think that's a mistake? I'm just waiting to hear back from estate agent re the delay in valuation. If they were to say its agreed pending valuation then fine but it's still not gone to underwriting. My MB has just emailed NW to see if they can try and push through because of the exchange deadlines. I know what you mean though - I'll still be worried even after exchange that the mortgage will be pulled or something. 

Your solicitor will do searches and you developer will do some as well . That was in my case . But I’m FTB so I have no idea If it’s normal . They are related to environment etc, like where’s the nearest hazardous waste storage, or how likely you are reliable to flooding, boundaries, where do the power line goes , future planing etc . We went with a local developer that we found by accident and loved the place , they very friendly and helpful, more helpful further down the road of successful mortgage you are but that’s everyone and hard to blame them. Our valuation was rescheduled so for me it was another week of waiting, 
I know for a fact that Barclays MA ware asked not to chase mortgage progress and that part of the underwriting is done in India, don’t know how it looks with other lenders but I presume it’s the same. Just happy I’ve applied before the rise in rates 😁

Fingers crossed for you.. we also saw the hosue and fell in love with it, after living in awful rentals for years, I can't wait to have my own. I'll see what solicitor says but i'm not overly worried about surveys, we're the last house on a small development so there would be issues arising before now.

Slimby

Received mortgage approval today!

FTB 90% LTV HSBC

Applied 2 weeks ago and was given a telephone appointment slot for today. The call was really helpful and apparently the case did not need to go to an underwriter

J4mesg

Slimby said:

Received mortgage approval today!

FTB 90% LTV HSBC

Applied 2 weeks ago and was given a telephone appointment slot for today. The call was really helpful and apparently the case did not need to go to an underwriter

Interesting. I thought all applications went to an underwriter!

Slimby

J4mesg - So did I. I think that perhaps the circumstances are really simple as there is no debt, no dependants etc. 

Aaghh321

Slimby said:

Received mortgage approval today!

FTB 90% LTV HSBC

Applied 2 weeks ago and was given a telephone appointment slot for today. The call was really helpful and apparently the case did not need to go to an underwriter

Congratulations!
I think HSBC use automated underwriting in some simple cases. My original application went straight to 'ready to offer' in about an hour after uploading my documents but then it got an IT bug (fatal error message) and I had to submit a new one. Been waiting 6 days for them to review my payslips and no hard credit search yet. I think current target is review within 7 days so hoping for movement soon. Its also an easy case - sub 40% LTV, low income multiple and worked throughout lockdown.
Has anyone else had the IT glitch and did the new application go ok afterwards?